US Secretary of State John Kerry has said that Egypt must reach an agreement with the International Monetary Fund to be able to boost its economy.

Egyptian President Mohamed Morsi recently came under fire from many Egyptian activists for requesting a loan of $4.8 billion from the IMF. They say such a loan could make Egyptian people poorer.

Kerry, who arrived in Cairo on Saturday and is scheduled to meet with the Egyptian president on Sunday, said he would tell Morsi in their meeting that US monetary assistance would depend on Egyptian reforms and the IMF agreement.

"It is clear to us that the IMF arrangement needs to be reached and we need to give the market place some confidence," the US secretary of state said.

"It is paramount, essential, urgent," Kerry told business leaders, "that the Egyptian economy gets stronger, gets back on its feet and it's very clear that there is a circle of connections in how that can happen.

"To attract capital, to bring money back here, to give business the confidence to move forward, there has to be sense of security, there has to be a sense of political and economic viability."

In addition, Kerry said that Egypt can overcome its challenges and become a strong and stable democracy, with a stable economy.

The Egyptians launched a revolution against the pro-Israeli regime in January 2011, which eventually brought an end to the 30-year dictatorship of former President Hosni Mubarak in February 2011.